Morgan Ltd , an equipment dealer, sells equipment on August 1, 2019, to Lane Construction for $100,000 (cash sale) At the same time, both companies agree that Morgan Ltd will repurchase this equipment from Lane Construction on June 30, 2020, for a price of $111,000 (cash repurchase) Required Prepa...

August 1 2019 Cash 100000 Equipment Sales 100000 To record the cash sale of equipment to Lane ...

Morgan Ltd., an equipment dealer, sells equipment on August 1, 2019, to Lane Construction for $100,000...

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